House Of Reps Orders CBN To Suspend New Cashless Policy
The House resolved to mandate the committee on banking to investigate the policy and report to the House in 4 weeks.
The decision followed a motion of urgent public importance moved by Benjamin Kalu.
It would be recalled that in a circular released on Tuesday, the CBN had directed all deposit money banks in the country to charge 3% processing fees for withdrawals and 2% for deposits of amounts above N500, 000 for individual accounts.
Corporate account holders will be charged 5% processing fees for withdrawals and 3% for deposits of amounts above N3 million.
The directive was, however, criticised by some Nigerians for various reasons.